"We are still at the very early stages of what technology can deliver," Page said during a conference call with analysts.

Analysts note that Google is not cutting back on expenses (it hired as many people this quarter as last), but revenue is growing.

"The boys of summer are back," BGC Partners analyst Colin Gillis said. "Google's results are a great way to kick off the September quarter for technology companies."

Google, which is contending with rising competition from social networking juggernaut Facebook, said it had signed up more than 40 million users for the Google+ social network it launched in June and opened to the public in September.]